Rising costs in the cyber industry and a massive growth in ransomware have prompted carriers to band together to think through best practices. AIG, AXIS, Beazley, Chubb, The Hartford, Liberty Mutual Insurance and Travelers came together to form CyberAcuView, a data share consortium aimed at better mitigating cyber risk.
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Cyber insurance carriers band together to deal with ransomware
“We are all wrestling with, and I think coming to, some level of standards for the industry,” said Michael Phillips, chief claims officer at cyber insurance company Resilience, and co-chair of the public-private Ransomware Task Force collaboration.
